European Investors Sue Volkswagen For $9 Billion Over DieselGate Scandal

Volkswagen Group faces 8.2 billion euros ($9.14 billion) in damage claims from investors over its emissions scandal in the legal district where the automaker is based, a German court said.

A total of about 1,400 lawsuits have been lodged at the regional court in Brunswick near Volkswagen's Wolfsburg headquarters, the court said today.

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PUGPROUD - 9/21/2016 12:52:59 PM

+1 Boost

Drip drip drip...the sound of VW's ship leaking cash.

TomM - 9/21/2016 6:19:38 PM

+1 Boost

If VW were not a German Company - I would suspect that a Bankruptcy reorganization plan would be coming. However - unlike the US - it takes a COURT to allow a reorganization under current management - normally a Bankruptcy administrator is appointed who takes control. So - in order to attempt to maintain their control over VW - current management is likely to try to ride out the problems without that option.